Stewart J. Rahr is an American entrepreneur, investor and philanthropist. A billionaire, Rahr was founder and owner of pharmaceutical and generics wholesaler Kinray, the largest privately owned pharmaceutical distributor in the world until it was bought out by Cardinal Health in 2010.
Early life and career
Stewart Rahr was raised in a Jewish family in Far Rockaway section of Queens, New York. He has an older brother, Elliot. As a youth, he worked at his father’s retail pharmacy store in Brooklyn and in 1963, he graduated from Poly Prep Country Day School also in Brooklyn. He graduated with a B.A. from New York University and attended New York University Law School before dropping out to take over his family’s pharmacy business which then had $50,000 in sales.
As the family business also served as a wholesaler for several other pharmacies, Rahr focused on the wholesaling side of the business. He expanded it into a large operation named Kinray Inc that served over 4,000 pharmacies in the Northeastern United States with revenues of over $5 billion. Rahr was able to grow the business rapidly through the stockpiling of pharmaceuticals, relying on drug price inflation to maximize his profit margin when he sold the extra inventory to retail pharmacies at a later date. This practice later became controversial due to consumer ethics issues, and pharmaceutical manufacturers now monitor their distributors to ensure that they do not hold more than one month’s supply of any given drug. In 2010, Rahr sold Kinray to Cardinal Health for $1.3 billion. He became a “self-made billionaire” in this way.
Summary
| Stewart J. Rahr | |
|---|---|
| Born | 1946 (age 70–71) Queens, New York |
| Residence | Manhattan, New York |
| Nationality | United States |
| Alma mater | New York University |
| Occupation | Former pharmaceutical distributor |
| Net worth |  US $ 2.2 billion (October 2015) |
| Spouse(s) | Carol K. Rahr (m. 1969–2012) |
| Children | Robert Rahr Felicia Rahr |
| Website | The Stewart J. Rahr Foundation |
Stewart Rahr net worth: Stewart Rahr is an American businessman and entrepreneur who has a net worth of $1.8 billion dollars. Stewart Rahr was born in Queens, New York in 1946. Stewart graduated from New York University. He attended New York University Law School but dropped out so he could take over his family’s pharmacy business. He decided to focus on the pharmacy acting as a wholesaler to other pharmacies. This eventually turned into Kinray Inc. and served more than 4000 pharmacies and made over $5 billion. Rahr sold Kinray to Cardinal Health in 2010 for $1.3 billion. He donated $10 million to the Make-A-Wish Foundation in 2013, which is the largest contribution in history. In 2013 he also donated $15 million to the Prostate Cancer Foundation. He has also donated large amounts to Knesset, United Hatzalah, North Shore Animal League America, Israel Cancer Research Fund, Salvation Army, and Russian American Jewish Experience. He married Carol K. Rahr in 1969 and had two children. The couple divorced and in 2013 Stewart agreed to pay her a settlement of $250 million. He purchased a house in The Hamptons in 2005 for $45 million and also has an apartment in the Trump Park Avenue building.
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